After making payments on its loan for more than a year, Tesla on Wednesday wired payment of $451.8 million to fully repay the loan with $26 million in interest and prepayment penalties. The payment was made using a portion of the $1 billion the company raised last week through offerings of common stock and convertible senior notes.

“I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the ATVM program, and particularly the American taxpayer from whom these funds originate,” Tesla CEO Elon Musk said in a statement.